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AFM publishes periodic AML/CFT questionnaire for investment firms

On 15 June 2020, the Autoriteit Financiële Markten (AFM) published the Periodic AML/CFT questionnaire for investment firms.

16 Jul 2020

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The AFM asked investment firms to complete a mandatory questionnaire about their activities this year. The questions concern the risks of money laundering, terrorist financing and compliance with sanctions regulations. This request was sent at the end of May.

Risk-based supervision

The AFM's supervision is risk-based. This means that the AFM uses the information supplied to draw up risk profiles of the various investment firms. These risk profiles provide the AFM with a general picture of the money laundering and terrorist financing risks in the market and the extent to which the Wwft and the Sanctions Act are complied with. In addition, the AFM can use these risk profiles when making choices in its supervisory strategy.

The questionnaire must be completed every year. The letter that the companies have received states when the AFM must have received the answers.

COVID-19 crisis

The AFM is aware of the current situation regarding the coronavirus and the impact on many organizations. AFM appreciates the contribution and cooperation of the investment firms to the questionnaire. If firms are unable to comply with this request within the requested period, they can contact the Ondernemersloket. The Ondernemersloket is currently only available by email at entrepreneursloket@afm.nl

AFM publishes periodic AML/CFT questionnaire for investment firms

This article was originally published in the June edition of REGWATCH. Read the full edition covering the following jurisdictions:

  • European Union
  • Belgium
  • France
  • Germany
  • Hong Kong
  • Ireland
  • Italy
  • Luxembourg
  • Switzerland
  • United Kingdom

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